Algert Global LLC Buys 25,480 Shares of Flex Ltd. (NASDAQ:FLEX)

Algert Global LLC lifted its position in Flex Ltd. (NASDAQ:FLEX) by 10.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 275,935 shares of the technology company’s stock after acquiring an additional 25,480 shares during the period. Algert Global LLC’s holdings in Flex were worth $9,225,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of FLEX. Vanguard Group Inc. lifted its position in Flex by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 5,971,083 shares of the technology company’s stock worth $170,833,000 after buying an additional 141,580 shares in the last quarter. Advisors Asset Management Inc. boosted its position in Flex by 27.6% during the first quarter. Advisors Asset Management Inc. now owns 37,811 shares of the technology company’s stock valued at $1,082,000 after purchasing an additional 8,169 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in Flex by 4.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 63,742 shares of the technology company’s stock valued at $1,824,000 after purchasing an additional 2,522 shares in the last quarter. Mount Yale Investment Advisors LLC bought a new stake in shares of Flex during the 1st quarter worth approximately $281,000. Finally, SVB Wealth LLC acquired a new stake in shares of Flex in the 1st quarter valued at approximately $454,000. Institutional investors and hedge funds own 94.30% of the company’s stock.

Flex Trading Up 1.9 %

FLEX opened at $41.30 on Friday. The stock has a market capitalization of $16.02 billion, a price-to-earnings ratio of 18.27, a P/E/G ratio of 2.58 and a beta of 1.08. The company has a quick ratio of 0.85, a current ratio of 1.43 and a debt-to-equity ratio of 0.64. Flex Ltd. has a twelve month low of $21.84 and a twelve month high of $41.52. The company has a 50-day simple moving average of $34.89 and a 200 day simple moving average of $32.18.

Analyst Upgrades and Downgrades

Several research firms have issued reports on FLEX. KeyCorp assumed coverage on shares of Flex in a research report on Tuesday, October 22nd. They set an “overweight” rating and a $41.00 price target on the stock. Barclays raised their price objective on Flex from $39.00 to $43.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. The Goldman Sachs Group set a $39.00 target price on Flex in a report on Thursday, October 17th. StockNews.com upgraded shares of Flex from a “hold” rating to a “buy” rating in a report on Tuesday, October 29th. Finally, Craig Hallum increased their target price on Flex from $39.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $40.83.

Insider Activity

In other Flex news, EVP David Scott Offer sold 10,000 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $32.95, for a total transaction of $329,500.00. Following the completion of the transaction, the executive vice president now owns 158,094 shares of the company’s stock, valued at approximately $5,209,197.30. The trade was a 5.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kwang Hooi Tan sold 8,028 shares of the company’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $35.39, for a total transaction of $284,110.92. Following the transaction, the insider now owns 240,018 shares of the company’s stock, valued at $8,494,237.02. This trade represents a 3.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 31,185 shares of company stock worth $1,122,655. 0.82% of the stock is currently owned by corporate insiders.

Flex Profile

Flex Ltd. provides technology, supply chain, and manufacturing solutions in Asia, the Americas, and Europe. It operates through three segments: Flex Agility Solutions (FAS), Flex Reliability Solutions (FRS), and Nextracker. The FAS segment offers flexible supply and manufacturing system comprising communications, enterprise and cloud solution, which includes data, edge, and communications infrastructure; lifestyle solution including appliances, consumer packaging, floorcare, micro mobility, and audio; and consumer devices, such as mobile and high velocity consumer devices.